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Economic Vocabulary Flashcards | StudBud
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Economic Vocabulary
Economic Vocabulary
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Flashcards
17 cards
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Questions
17
Answers
1
Products that we can't touch. Things provided for us
Services
Inflation
Economics
Good
2
Someone who purchases goods and services
Consumer
Inflation
Entrepreneur
Human Resource
3
Something that is used to make a purchase or represents value.
Currency
Trade
Barter
Paper
4
If the demand goes down, then the price goes __________________________
Up
Down
5
The person who has the the idea to make a good or service
Consumer
Engineer
Human Resource
Entrepreneur
6
How much of something is available
Demand
Supply
Surplus
Scarcity
7
Resources are limited
Scarcity
Demand
Opportunity Cost
Supply
8
Products that we can touch
Barter
Services
Wants
Goods
9
Tools or machines used to make goods and services
Natural Resource
Human Resource
Capital Resource
Wants
10
The making, buying, and selling of goods and services
Economics
Resources
4 Factors of Production
Goods
11
Things we use from nature
Capital
Human
Natural
Scaricity
12
Exchange of goods and services
Trade
Opportunity Cost
Negotiate
Inflation
13
A human worker
Consumer
Human Resource
Natural Resource
Capital Resource
14
If the supply goes up, then the price goes _______________________
Up
Down
15
How much people want something
Currency
Resource
Demand
Supply
16
If the demand goes up, the price goes_______________________
Down
Up
17
If the supply goes down, then the price goes______________________
Down
Up
